Industrial Battery Charger Market Outlook and Opportunities in Grooming Regions
A recently compiled report of Fact.MR, titled “Industrial Battery Charger Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2028,” provides a detailed study on the global industrial charger market. Size of the industrial charger market has been analyzed comprehensively and is provided in terms of value (US$ Mn) and volume (000 units). The report has also mentioned the projection dynamics of the industrial battery charger market.
Industrial Battery Charger Going ‘Smart’
The digital revolution continues to thrive on the back of rapid transformations in battery technology that is used during industrial operations. Intelligent solutions continue to garner increased traction, strongly backed by the proliferation of IoT. Of late, digitalization has been transforming industries, and the IoT enabled smart charging technology is highly likely to gain considerable traction as a staple trend in the near future. As the rate of smart grid adoption continues to rise, it is highly likely that the smart battery charger sales will be on the rise over the course of forthcoming years.
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Industrial Battery Charger Market – Research Methodology
An accurate methodology and holistic approach forms the base of the incisive insights presented in the industrial battery charger market. The Fact.MR study offers in-depth information related to the growth forecast of industrial battery charger industry and a systematic breakdown of the key factors that are influencing the growth of the market.
Key Factors Shaping the Industrial Battery Charger Market
- Increasing support from governments to the thriving trend of ‘electrification’ has been accelerating the procurement of industrial battery chargers. Governments in many regions are offering attractive subsidy schemes to encourage procurement of alternative energy systems at individual as well as organizational levels, at reduced capital cost. Moreover, their growing focus on building an electricity grid that supports evolving consumer expectations is bolstering demand for relevant charging infrastructure. The accelerating industrial shift towards adoption of smart grids continues to create and augment preference for industrial battery chargers.
- Potential use of electrification technologies to enable the delivery of less carbon-intensive electricity supply and their deployment as tools for alleviated environmental impact, are creating novel avenues for industrial battery charger manufacturers. Cost savings mark an additional benefit for investors in industrial battery chargers.
- Growing use of batteries to meet the entire electrical load of both AC and non-AC coaches has led to a surge in the adoption of energy storage solutions, translating into an increased demand for industrial battery chargers. Wide applications of flooded and sealed lead acid (SLA) batteries in railways are likely to reinforce the growth of market for industrial battery charger in the years to come.
The study also mentions that the heightening popularity of energy-efficient and cost-effective technologies, such as ferroresonant and SCR technology, over hybrid and high-frequency battery variants, will significantly contribute towards the growth of industrial battery charger market. Extensive inherent advantages of these energy-efficient technologies, in terms of voltage regulation, low operation costs, easy maintenance, and high reliability, will continue to account for high preference. The subsequent rise in demand for high-efficiency power solutions for different industrial operations is set to augur well for the sales of industrial battery chargers.
IT and data centers are anticipated to remain the prominent end-use sector and will thus hold a fourth of global sales volume of industrial battery chargers, in coming years. High dependency of IT and data centers on backup power has been creating lucrative opportunities in the industrial battery charger market. With evident profitable opportunities, APEJ will remain the leading market for industrial battery charger manufacturers. While APEJ’s market attractiveness is attributed to spectacular expansion of the IT & telecom industry, that of developed regional markets has been traditionally banking on the resurgence of oil & gas industry, which is among the prime end-use consumer of industrial batteries.
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